Johnson Controls 2014 Annual Report Download - page 36

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36
from a lost Global Workplace Solutions contract. Foreign currency translation had a favorable impact on SG&A of $17 million.
Refer to the segment analysis below within Item 7 for a discussion of segment income by segment.
Gain on Business Divestitures - Net
Year Ended
September 30,
(in millions) 2013 2012 Change
Gain on business divestitures - net $ 7 $ 40 -83%
Refer to Note 2, "Acquisitions and Divestitures," of the notes to consolidated financial statements for information on the gain on
business divestitures - net.
Restructuring and Impairment Costs
Year Ended
September 30,
(in millions) 2013 2012 Change
Restructuring and impairment costs $ 957 $ 287 *
* Measure not meaningful
Refer to Note 16, "Significant Restructuring and Impairment Costs," of the notes to consolidated financial statements for information
on the restructuring and impairment costs.
Net Financing Charges
Year Ended
September 30,
(in millions) 2013 2012 Change
Net financing charges $ 247 $ 231 7%
The increase in net financing charges was primarily due to higher interest expense as a result of higher debt levels during fiscal
2013 as compared to fiscal 2012.
Equity Income
Year Ended
September 30,
(in millions) 2013 2012 Change
Equity income $ 399 $ 338 18%
The increase in equity income was primarily due to gains on acquisitions of partially-owned affiliates in the Automotive Experience
business ($106 million), partially offset by a fiscal 2012 redemption of a warrant for an existing partially-owned affiliate in the
Power Solutions business ($25 million), a fiscal 2012 equity interest gain in the Automotive Experience business ($15 million)
and a fiscal 2012 equity interest gain on acquisition of a partially-owned affiliate in the Power Solutions business ($9 million).
Refer to the segment analysis below within Item 7 for a discussion of segment income by segment.
Income Tax Provision
Year Ended
September 30,
(in millions) 2013 2012 Change
Income tax provision $ 696 $ 161 *
* Measure not meaningful
The effective rate is above the U.S. statutory rate for fiscal 2013 primarily due to significant restructuring and impairment costs
and valuation allowance and uncertain tax position adjustments, partially offset by favorable tax audit resolutions, the benefits of